Stakeholders in the blockchain and fintech ecosystem have called on the Federal Government to implement policies that will foster the widespread integration of blockchain in the country.

They stated this during the National Information Technology Development Agency and Stakeholders in Blockchain Technology Association of Nigeria Stakeholders’ Policy Dialogue held in Lagos recently. They stressed the necessity of establishing a forward-thinking regulatory framework, aimed at accelerating the infusion of blockchain technology into diverse sectors of the economy.

This move follows the signing of the National Blockchain Policy by former President Muhammadu Buhari.

The President of SIBAN, Obinna Iwuno, told The PUNCH that Nigeria was fully equipped for the comprehensive implementation of blockchain technology.

“This is the first time we are having a full house of industry stakeholders, regulators, and operators. We are ready for full adoption now and the blockchain policy initiated by the government positions Nigeria as a trailblazer in the continent’s digital economy landscape if fully implemented,” he said.

Iwuno highlighted the potential of blockchain to bridge gaps and align with global advancements, especially within the ongoing fourth industrial revolution.

According to the National Information Technology Development Agency Director General of NITDA, Kashifu Abdullahi, the potential of blockchain technology is far-reaching.

He stated that blockchain technology holds the potential to drive economic growth, foster job creation, and tackle the long-standing issue of financial inclusion.

According to him, with technological advancements driving leading countries today, the call to position Nigeria as a formidable contender on the global stage resonates strongly.

Abdullahi said the journey towards the integration of blockchain technology into Nigeria’s mainstream was not merely a governmental initiative but a collaborative one driven by the collective determination of stakeholders to position Nigeria as a leader on the global stage.

The Deputy Director of the Digital Economy Development Department, NITDA, Preye Itonyo, also highlighted the collaborative drive between industry stakeholders and the government to transform Nigeria into a global blockchain hub.

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